Intech Investment Management LLC Raises Position in Align Technology, Inc. (NASDAQ:ALGN)

Intech Investment Management LLC raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 185.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,287 shares of the medical equipment provider’s stock after buying an additional 2,134 shares during the quarter. Intech Investment Management LLC’s holdings in Align Technology were worth $685,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Align Technology in the third quarter worth approximately $742,000. Commerce Bank raised its position in shares of Align Technology by 47.0% during the 3rd quarter. Commerce Bank now owns 3,381 shares of the medical equipment provider’s stock valued at $860,000 after buying an additional 1,081 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Align Technology by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 448,028 shares of the medical equipment provider’s stock valued at $113,942,000 after buying an additional 10,887 shares in the last quarter. Algert Global LLC grew its position in Align Technology by 46.7% in the third quarter. Algert Global LLC now owns 2,022 shares of the medical equipment provider’s stock worth $514,000 after acquiring an additional 644 shares in the last quarter. Finally, Swedbank AB grew its position in Align Technology by 30.1% in the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after acquiring an additional 90,000 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

Shares of ALGN stock opened at $168.61 on Monday. Align Technology, Inc. has a fifty-two week low of $158.13 and a fifty-two week high of $331.64. The firm has a market cap of $12.41 billion, a P/E ratio of 30.06, a P/E/G ratio of 2.24 and a beta of 1.69. The business’s 50 day moving average price is $198.78 and its 200-day moving average price is $216.53.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ALGN. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price target (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Evercore ISI boosted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Bank of America increased their target price on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley lowered their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $266.73.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.